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The first important economic data set should be the U.S. Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index. The ISM Manufacturing PMI has been indicating a contraction (a reading below 50) in the U.S. manufacturing sector since April 2024.

Data on U.S. Durable Goods Orders, to be released on Tuesday, December 24, will provide investors with clues on the country’s economic health. According to Trading Central's "Economic Insight", Durable Goods Orders are expected to decline 0.2% month on month in November.

Smart traders know that cutting losses quickly and focusing on winning positions is the key to success.